LA Fitness
Operated by privately held Fitness International (backed by Madison Dearborn and Seidler); no public financials and no S&P rating found. Big-box gyms are expensive to backfill, so value relies on store-level performance and lease term.
- US units
- 650
- 2026 (approx., incl. Esporta/Club Studio)
- 3Y net growth
- −7.1%
- vs. 2022 (approx.)
- Credit rating
- NR
- No public rating
- Typical term
- 15 yr
- NNN
- Model
- Corporate
- Private equity
Unit count
LA Fitness in the news
All news →No tagged headlines in the last three weeks.
LA Fitness net lease FAQ
What is LA Fitness's credit rating?
LA Fitness does not carry a public S&P issuer credit rating (NR). Landlords underwrite it on unit-level performance, the guarantor named in the lease and, for public companies, reported financials.
How many LA Fitness locations are there in the US?
LA Fitness reported about 650 US locations as of 2026 (approx., incl. Esporta/Club Studio). That is −7.1% versus 700 in 2022 (approx.).
What does a typical LA Fitness net lease look like?
Lease type: NNN. Initial term: 15 yr. Rent increases: ~10% every 5 yr. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is LA Fitness corporate or franchised?
Operating model: Corporate. LA Fitness is part of Fitness International, LLC. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.